#banknifty short term view:-
#banknifty
On Weekly Time Frame 45,214 will continue to act as strong support. The wave 5 min 61.8 % projection is complete but the price has given as breakout above the weekly trend line resistance and there is a pullback to the breakout. From the weekly time frame, the next direction is not very conclusive.
On 1 HR TF analysis, till Friday's low is not violated on a closing basis, stay long, 45,675 above be long BINDAS. Will revisit the analysis one the lower trend line breaks then will look for sell signals.
Stop Loss is point in the chart.
Always trade what you see, not what you feel, life will become super easy.
Regards,
SG.
On Weekly Time Frame 45,214 will continue to act as strong support. The wave 5 min 61.8 % projection is complete but the price has given as breakout above the weekly trend line resistance and there is a pullback to the breakout. From the weekly time frame, the next direction is not very conclusive.
On 1 HR TF analysis, till Friday's low is not violated on a closing basis, stay long, 45,675 above be long BINDAS. Will revisit the analysis one the lower trend line breaks then will look for sell signals.
Stop Loss is point in the chart.
Always trade what you see, not what you feel, life will become super easy.
Regards,
SG.
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